What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-12-05 compared with 2025-09-05 · 135 added, 126 removed, 670 unchanged (28% of the section changed)

3 unchanged sentences

(Thousands, except per share amounts)

Thirteen Weeks Ended Twenty-Six Weeks Ended

August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

Thirteen Weeks Ended Thirty-Nine Weeks Ended

November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Net sales $ 1,290,619 $ 1,208,966 $ 3,596,490 $ 3,363,670

31 unchanged sentences

(Thousands, except par value amounts)

August 2, 2025 February 1, 2025

November 1, 2025 February 1, 2025

Current assets:

29 unchanged sentences

Treasury stock, at average cost:

56,233 and 53,565 shares as of August 2, 2025 and February 1, 2025, respectively

57,444 and 53,565 shares as of November 1, 2025 and February 1, 2025, respectively

( 2,489,880 ) ( 2,145,890 )

10 unchanged sentences

(Thousands, except per share amounts)

Thirteen Weeks Ended August 2, 2025

Thirteen Weeks Ended November 1, 2025

Common Stock Paid-in

4 unchanged sentences

value Shares At average

Balance, May 3, 2025 47,643 $ 1,033 $ 396,750 $ 13,468 $ 3,272,657 $ ( 141,029 ) 55,657 $ ( 2,340,285 ) $ 1,202,594

Balance, August 2, 2025 47,067 $ 1,033 $ 404,883 $ 14,949 $ 3,414,033 $ ( 137,828 ) 56,233 $ ( 2,389,866 ) $ 1,307,204

Net income 2,105 112,995 115,100

7 unchanged sentences

( 2,487 ) ( 2,487 )

Ending balance at August 2, 2025 47,067 $ 1,033 $ 404,883 $ 14,949 $ 3,414,033 $ ( 137,828 ) 56,233 $ ( 2,389,866 ) $ 1,307,204

Thirteen Weeks Ended August 3, 2024

Ending balance at November 1, 2025 45,856 $ 1,033 $ 412,813 $ 14,567 $ 3,525,907 $ ( 133,030 ) 57,444 $ ( 2,489,880 ) $ 1,331,410

Thirteen Weeks Ended November 2, 2024

Common Stock Paid-in

4 unchanged sentences

value Shares At average

Balance, May 4, 2024 51,102 $ 1,033 $ 400,807 $ 12,284 $ 2,745,382 $ ( 137,282 ) 52,198 $ ( 1,931,054 ) $ 1,091,170

Balance, August 3, 2024 51,069 $ 1,033 $ 408,293 $ 14,624 $ 2,877,969 $ ( 134,991 ) 52,231 $ ( 1,945,778 ) $ 1,221,150

Net income 1,885 131,979 133,864

4 unchanged sentences

Foreign currency translation adjustments, net of tax 84 84

Contribution to noncontrolling interests, net

Distribution to noncontrolling interests, net

( 3,182 ) ( 3,182 )

Ending balance at August 3, 2024 51,069 $ 1,033 $ 408,293 $ 14,624 $ 2,877,969 $ ( 134,991 ) 52,231 $ ( 1,945,778 ) $ 1,221,150

Ending balance at November 2, 2024 50,371 $ 1,033 $ 416,640 $ 13,327 $ 3,009,664 $ ( 133,446 ) 52,929 $ ( 2,046,758 ) $ 1,260,460

(1) Includes commissions and excise tax on share repurchases

4 unchanged sentences

(Thousands, except per share amounts)

Twenty-Six Weeks Ended August 2, 2025

Thirty-Nine Weeks Ended November 1, 2025

Common Stock Paid-in

14 unchanged sentences

( 6,564 ) ( 6,564 )

Ending balance at August 2, 2025 47,067 $ 1,033 $ 404,883 $ 14,949 $ 3,414,033 $ ( 137,828 ) 56,233 $ ( 2,389,866 ) $ 1,307,204

Twenty-Six Weeks Ended August 3, 2024

Ending balance at November 1, 2025 45,856 $ 1,033 $ 412,813 $ 14,567 $ 3,525,907 $ ( 133,030 ) 57,444 $ ( 2,489,880 ) $ 1,331,410

Thirty-Nine Weeks Ended November 2, 2024

Common Stock Paid-in

13 unchanged sentences

( 6,824 ) ( 6,824 )

Ending balance at August 3, 2024 51,069 $ 1,033 $ 408,293 $ 14,624 $ 2,877,969 $ ( 134,991 ) 52,231 $ ( 1,945,778 ) $ 1,221,150

Ending balance at November 2, 2024 50,371 $ 1,033 $ 416,640 $ 13,327 $ 3,009,664 $ ( 133,446 ) 52,929 $ ( 2,046,758 ) $ 1,260,460

(1) Includes commissions and excise tax on share repurchases

4 unchanged sentences

Condensed Consolidated Statements of Cash Flows

Twenty-Six Weeks Ended

August 2, 2025 August 3, 2024

Thirty-Nine Weeks Ended

November 1, 2025 November 2, 2024

Operating activities

18 unchanged sentences

Purchases of marketable securities

( 15,000 ) ( 55,000 )

Proceeds from maturities of marketable securities

73 unchanged sentences

Interim financial statements

The Condensed Consolidated Financial Statements as of August 2, 2025, and for the thirteen and twenty-six week periods ended August 2, 2025 and August 3, 2024, are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim consolidated financial statements.

The Condensed Consolidated Financial Statements as of November 1, 2025, and for the thirteen and thirty-nine week periods ended November 1, 2025 and November 2, 2024, are unaudited and are presented pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim consolidated financial statements.

Accordingly, the Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto contained in A&F’s Annual Report on Form 10-K for Fiscal 2024 filed with the SEC on March 31, 2025 (the “Fiscal 2024 Form 10-K”).

17 unchanged sentences

The guidance will be applied on a prospective basis with the option to apply the standard retrospectively.

Other than the new disclosure requirements, the adoption of this guidance will not have a significant impact on the Company’s consolidated financial statements.

Other than the new disclosure requirements, the adoption of this guidance will not have an impact on the Company’s consolidated financial statements.

ASU 2024-03 - Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

2 unchanged sentences

Clarifying the Effective Date

The update requires a disaggregated disclosure of income statement expenses.

The updates require a disaggregated disclosure of income statement expenses.

The amendments in this update require disclosure, in the notes to financial statements, of specified information about certain costs and expenses.

The update is effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027.

The updates are effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027.

Early adoption is permitted.

Other than the new disclosure requirements, the adoption of this guidance will not have a significant impact on the Company’s consolidated financial statements.

Other than the new disclosure requirements, the adoption of this guidance will not have a impact on the Company’s consolidated financial statements.

ASU 2025-06 - Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40):

Targeted Improvements to the Accounting for Internal-Use Software The update removes all references to project stages and clarifies that costs may begin to be capitalized once management has authorized the project and it is probable that the project will be completed and the software will be used to perform the function intended.

The update specifies disclosure of capitalized internal-use software balance and accumulated amortization at the balance sheet date, the amortization for the period and a general description of the method used in computing amortization.

The update is effective for annual periods beginning after December 15, 2027 and interim periods within those years.

Early adoption is permitted.

The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements and accompanying notes

Condensed Consolidated Statements of Cash Flows reconciliation

The following table provides a reconciliation of cash and equivalents and restricted cash and equivalents to the amounts shown on the Condensed Consolidated Statements of Cash Flows:

(in thousands) Location August 2, 2025 February 1, 2025 August 3, 2024 February 3, 2024

(in thousands) Location November 1, 2025 February 1, 2025 November 2, 2024 February 3, 2024

Cash and equivalents Cash and equivalents $ 605,783 $ 772,727 $ 683,089 $ 900,884

11 unchanged sentences

The agreement with the financial institution does not require the Company to provide assets pledged as security or other forms of guarantees for the SCF program.

As of August 2, 2025 and February 1, 2025, $ 78.2 million and $ 88.4 million of SCF program liabilities were recorded in accounts payable in the Condensed Consolidated Balance Sheets, respectively.

As of November 1, 2025 and February 1, 2025, $ 61.7 million and $ 88.4 million of SCF program liabilities were recorded in accounts payable in the Condensed Consolidated Balance Sheets, respectively.

Amounts are reflected as cash used for operating activities in the Condensed Consolidated Statements of Cash Flows when settled.

2 unchanged sentences

During the second quarter of Fiscal 2025 , the Company entered into a settlement related to the resolution of a payment card interchange fee litigation in which it was a plaintiff.

The settlement resulted in a $ 39 million net benefit recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income.

The settlement resulted in a $ 39 million net benefit recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income for the thirty-nine weeks ended November 1, 2025.

The net benefit is comprised of a $ 43 million settlement benefit recorded within selling expense and a $ 4 million settlement-related expense recorded within general and administrative expense.

4 unchanged sentences

Contract liabilities

The following table details certain contract liabilities representing unearned revenue as of August 2, 2025, February 1, 2025, August 3, 2024 and February 3, 2024:

(in thousands) August 2, 2025 February 1, 2025 August 3, 2024 February 3, 2024

The following table details certain contract liabilities representing unearned revenue as of November 1, 2025, February 1, 2025, November 2, 2024, and February 3, 2024:

(in thousands) November 1, 2025 February 1, 2025 November 2, 2024 February 3, 2024

Gift card liability (1)

1 unchanged sentence

Loyalty programs liability 35,895 32,199 30,648 27,937

(1) Includes $ 18.0 million and $ 14.8 million of revenue recognized during the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively, that was included in the gift card liability at the beginning of February 1, 2025 and February 3, 2024, respectively.

The following table details recognized revenue associated with the Company’s gift card program and loyalty programs for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

(1) Includes $ 21.2 million and $ 17.7 million of revenue recognized during the thirty-nine weeks ended November 1, 2025 and November 2, 2024, respectively, that was included in the gift card liability at the beginning of February 1, 2025 and February 3, 2024, respectively.

The following table details recognized revenue associated with the Company’s gift card program and loyalty programs for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Revenue associated with gift card redemptions and gift card breakage $ 25,733 $ 32,680 $ 85,376 $ 96,172

4 unchanged sentences

Net income per basic and diluted share attributable to A&F is computed based on the weighted-average number of outstanding shares of A&F’s Class A Common Stock, $0.01 par value (“Common Stock”).

The following table provides additional information pertaining to net income per share attributable to A&F for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides additional information pertaining to net income per share attributable to A&F for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Shares of Common Stock issued 103,300 103,300 103,300 103,300

14 unchanged sentences

The lowest level of significant input determines the placement of the entire fair value measurement in the hierarchy.

The following table provides the three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of August 2, 2025 and February 1, 2025:

Assets and Liabilities at Fair Value as of August 2, 2025

The following table provides the three levels of the hierarchy and the distribution of the Company’s assets measured at fair value on a recurring basis, as of November 1, 2025 and February 1, 2025:

Assets and Liabilities at Fair Value as of November 1, 2025

(in thousands) Level 1 Level 2 Level 3 Total

2 unchanged sentences

Derivative instruments (2)

— 2,050 — 2,050

Rabbi Trust assets (3)

32 unchanged sentences

PROPERTY AND EQUIPMENT, NET

The following table provides property and equipment, net as of August 2, 2025 and February 1, 2025:

(in thousands) August 2, 2025 February 1, 2025

The following table provides property and equipment, net as of November 1, 2025 and February 1, 2025:

(in thousands) November 1, 2025 February 1, 2025

Property and equipment, at cost $ 2,795,078 $ 2,605,871

1 unchanged sentence

Property and equipment, net $ 661,646 $ 575,773

Refer to Note 9, “ ASSET IMPAIRMENT ,” for details related to property and equipment impairment charges incurred during the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024.

Refer to Note 9, “ ASSET IMPAIRMENT ,” for details related to property and equipment impairment charges incurred during the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024.

The Company is a party to leases related to its Company-operated retail stores, as well as for certain of its distribution centers, office space, information technology and equipment.

The following table provides a summary of the Company’s operating lease costs for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides a summary of the Company’s operating lease costs for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Single lease cost (1)

10 unchanged sentences

(3) Refer to Note 9, “ ASSET IMPAIRMENT ,” for details related to operating lease right-of-use asset impairment charges.

The Company had minimum commitments related to operating lease contracts that have not yet commenced, primarily for certain Company-operated retail stores, of approximately $ 121.6 million as of August 2, 2025.

Abercrombie & Fitch Co.

1 unchanged sentence

ASSET IMPAIRMENT

The following table provides asset impairment charges for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides asset impairment charges for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Operating lease right-of-use asset impairment $ 1,331 $ 233 $ 2,403 $ 1,043

2 unchanged sentences

Total asset impairment $ 2,271 $ 5,499 $ 5,723 $ 7,066

Asset impairment charges for the twenty-six weeks ended August 2, 2025 and August 3, 2024 related to certain of the Company’s store assets, primarily in the EMEA and APAC segments.

The store impairment charges for the twenty-six weeks ended August 2, 2025 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $ 7.4 million, including $ 5.9 million related to operating lease right-of-use assets.

Asset impairment charges for the thirty-nine weeks ended November 1, 2025 and November 2, 2024 related to certain of the Company’s store assets, in the Americas, EMEA and APAC segments.

The store impairment charges for the thirty-nine weeks ended November 1, 2025 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $ 11.4 million, including $ 9.6 million related to operating lease right-of-use assets.

The quarterly provision for income taxes is based on the current estimate of the annual effective income tax rate and the tax effect of discrete items occurring during the quarter.

7 unchanged sentences

corporate income tax law impacting the taxation of domestic and international business operations, including permanently extending certain expiring provisions of the Tax Cuts and Jobs Act, restoration of accelerated depreciation on capital expenditures, deductible research and experimental expenditures, and modifications to the international tax framework.

The enactment of the OBBBA did not have a material impact on the consolidated financial statements and disclosures.

The enactment of the OBBBA did not have a material impact on the Company’s consolidated financial statements and disclosures.

Impact of valuation allowances

During the thirteen and twenty-six weeks ended August 2, 2025, the Company did not recognize income tax benefits on $ 21.8 million and $ 31.8 million, respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 3.4 million and $ 4.9 million, respectively.

During the thirteen and twenty-six weeks ended August 2, 2025, the Company recorded income tax expense of $5.6 million for the establishment of an additional valuation allowance against the remaining net deferred tax assets in Japan.

As of August 2, 2025, the Company had foreign net deferred tax assets of approximately $ 38.3 million, including $ 10.1 million, and $ 15.7 million in China, and the United Kingdom, respectively.

During the thirteen and thirty-nine weeks ended November 1, 2025, the Company did not recognize income tax benefits on $ 21.0 million and $ 52.8 million, respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 3.2 million and $ 8.1 million, respectively.

During the thirty-nine weeks ended November 1, 2025, the Company recorded income tax expense of $ 5.6 million for the establishment of an additional valuation allowance against the remaining net deferred tax assets in Japan.

As of November 1, 2025, the Company had foreign net deferred tax assets of approximately $ 40.3 million, including $ 15.5 million and $ 11.4 million in the United Kingdom and China, respectively.

While the Company believes that these net deferred tax assets are more-likely-than-not to be realized, it is not a certainty, as the Company continues to evaluate and respond to situations as they emerge.

1 unchanged sentence

Additional valuation allowances would result in additional tax expense.

During the thirteen and twenty-six weeks ended August 3, 2024, the Company did not recognize income tax benefits on $ 7.0 million and $ 14.6 million, respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 1.1 million and $ 2.2 million, respectively.

During the thirteen and thirty-nine weeks ended November 2, 2024, the Company did not recognize income tax benefits on $ 7.7 million and $ 22.3 million, respectively, of pretax losses, primarily in Switzerland, resulting in adverse tax impacts of $ 1.2 million and $ 3.4 million, respectively.

As of February 1, 2025, there were approximately $ 8.2 million, $ 5.4 million, and $ 13.4 million of net deferred tax assets in China, Japan, and the United Kingdom, respectively.

Share-based compensation

Refer to Note 12, “ SHARE-BASED COMPENSATION ,” for details on income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024.

Refer to Note 12, “ SHARE-BASED COMPENSATION ,” for details on income tax benefits and charges related to share-based compensation awards during the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024.

Abercrombie & Fitch Co.

4 unchanged sentences

Financial Statements and Supplementary Data” of the Fiscal 2024 Form 10-K.

The Company did not have any borrowings outstanding under the ABL Facility as of August 2, 2025 or as of February 1, 2025.

As of August 2, 2025, availability under the ABL Facility was $ 499.5 million, net of $ 0.5 million in outstanding stand-by letters of credit.

As the Company must maintain excess availability equal to the greater of 10% of the loan cap or $36 million under the ABL Facility, borrowing capacity available to the Company under the ABL Facility was $ 449.5 million as of August 2, 2025.

The Company did not have any borrowings outstanding under the ABL Facility as of November 1, 2025 or as of February 1, 2025.

As of November 1, 2025, availability under the ABL Facility was $ 499.5 million, net of $ 0.5 million in outstanding stand-by letters of credit.

Representations, warranties and covenants

8 unchanged sentences

Certain of the agreements related to the ABL Facility also contain certain affirmative covenants, including reporting requirements such as delivery of financial statements, certificates and notices of certain events, maintaining insurance and providing additional guarantees and collateral in certain circumstances.

The Company was in compliance with all debt covenants under these agreements as of August 2, 2025.

The Company was in compliance with all debt covenants under these agreements as of November 1, 2025.

SHARE-BASED COMPENSATION

Financial statement impact

The following table provides share-based compensation expense and the related income tax impacts for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides share-based compensation expense and the related income tax impacts for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Share-based compensation expense $ 9,107 $ 9,527 $ 29,491 $ 30,123

1 unchanged sentence

1,421 1,287 4,306 3,805

The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Income tax discrete benefits realized for tax deductions related to the issuance of shares

$ 841 $ 581 $ 5,679 $ 17,913

The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Employee tax withheld upon issuance of shares (1)

4 unchanged sentences

Restricted stock units

The following table provides the summarized activity for restricted stock units for the twenty-six weeks ended August 2, 2025:

The following table provides the summarized activity for restricted stock units for the thirty-nine weeks ended November 1, 2025:

Service-based Restricted

16 unchanged sentences

Forfeited ( 42,409 ) 56.61 ( 2,956 ) 89.06 ( 1,478 ) 109.36

Unvested at August 2, 2025 (1)

Unvested at November 1, 2025 (1)

979,317 $ 65.27 342,566 $ 56.31 171,304 $ 74.95

1 unchanged sentence

Unvested shares related to restricted stock units with performance-based and market-based vesting conditions can be achieved from zero up to 200% of their target vesting amount.

The following table provides the unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of August 2, 2025:

Service-based Restricted

4 unchanged sentences

Remaining weighted-average period cost is expected to be recognized (years)

The following table provides additional information pertaining to restricted stock units for the twenty-six weeks ended August 2, 2025 and August 3, 2024:

Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024

The following table provides additional information pertaining to restricted stock units for the thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024

Service-based restricted stock units:

7 unchanged sentences

Total grant date fair value of awards vested 7,214 7,574

The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the twenty-six weeks ended August 2, 2025 and August 3, 2024:

Twenty-Six Weeks Ended

August 2, 2025 August 3, 2024

The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirty-Nine Weeks Ended

November 1, 2025 November 2, 2024

Grant date market price $ 78.69 $ 120.56

22 unchanged sentences

The Company has chosen not to apply hedge accounting to these instruments because there are no anticipated differences in the timing of gain or loss recognition on the hedging instruments and the hedged items.

As of August 2, 2025, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany transactions:

As of November 1, 2025, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany transactions:

(in thousands) Notional Amount (1)

3 unchanged sentences

(1) Amounts reported are the U.S.

dollar notional amounts outstanding as of August 2, 2025.

As of August 2, 2025, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge foreign-currency-denominated net monetary assets and liabilities:

dollar notional amounts outstanding as of November 1, 2025.

As of November 1, 2025, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge foreign-currency-denominated net monetary assets and liabilities:

(in thousands) Notional Amount (1)

British pound $ 9,341

(1) Amounts reported are the U.S.

Dollar notional amounts outstanding as of August 2, 2025.

Dollar notional amounts outstanding as of November 1, 2025.

The fair value of derivative instruments is determined using quoted market prices of the same or similar instruments, adjusted for counterparty risk.

The following table provides the location and amounts of derivative fair values of foreign currency exchange forward contracts on the Condensed Consolidated Balance Sheets as of August 2, 2025 and February 1, 2025:

(in thousands) Location August 2, 2025 February 1, 2025 Location August 2, 2025 February 1, 2025

(in thousands) Location November 1, 2025 February 1, 2025 Location November 1, 2025 February 1, 2025

Derivatives designated as cash flow hedging instruments Other current assets

4 unchanged sentences

$ 2,050 $ 4,315 $ 2,719 $ —

The following table provides information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

(Loss) gain recognized in AOCL (1)

The following table provides information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

Gain (loss) recognized in AOCL (1)

$ 2,039 $ 1,162 $ ( 10,536 ) $ 1,604

3 unchanged sentences

(2) Amount represents (loss) gain reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) when the hedged item affects earnings, which is when merchandise is converted to cost of sales, exclusive of depreciation and amortization.

Substantially all of the unrealized gain will be recognized in costs of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income over the next twelve months .

Abercrombie & Fitch Co.

2025 3Q Form 10-Q

The following table provides additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

Gain (loss) recognized in other operating (income) loss, net

The following table provides additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

(Loss) gain, net recognized in other operating (income) loss, net

$ ( 205 ) $ 11 $ 479 $ 454

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following tables provide activity in AOCL for the thirteen and twenty-six weeks ended August 2, 2025:

Thirteen Weeks Ended August 2, 2025

The following tables provide activity in AOCL for the thirteen and thirty-nine weeks ended November 1, 2025:

Thirteen Weeks Ended November 1, 2025

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at May 3, 2025 $ ( 133,221 ) $ ( 7,808 ) $ ( 141,029 )

Other comprehensive income (loss) before reclassifications 2,153 ( 1,239 ) 914

Beginning balance at August 2, 2025 $ ( 131,068 ) $ ( 6,760 ) $ ( 137,828 )

Other comprehensive (loss) income before reclassifications ( 620 ) 2,039 1,419

Reclassified loss from AOCL (1)

1 unchanged sentence

Tax effect — ( 182 ) ( 182 )

Other comprehensive income after reclassifications 2,153 1,048 3,201

Ending balance at August 2, 2025 $ ( 131,068 ) $ ( 6,760 ) $ ( 137,828 )

Twenty-Six Weeks Ended August 2, 2025

Other comprehensive (loss) income after reclassifications ( 620 ) 5,418 4,798

Ending balance at November 1, 2025 $ ( 131,688 ) $ ( 1,342 ) $ ( 133,030 )

Thirty-Nine Weeks Ended November 1, 2025

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

2 unchanged sentences

Reclassified loss from AOCL (1)

— 4,289 4,289

Tax effect — 173 173

Other comprehensive income (loss) after reclassifications 12,195 ( 6,074 ) 6,121

Ending balance at August 2, 2025 $ ( 131,068 ) $ ( 6,760 ) $ ( 137,828 )

Ending balance at November 1, 2025 $ ( 131,688 ) $ ( 1,342 ) $ ( 133,030 )

(1) Amount represents loss reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

The following tables provide activity in AOCL for the thirteen and twenty-six weeks ended August 3, 2024:

Thirteen Weeks Ended August 3, 2024

The following tables provide activity in AOCL for the thirteen and thirty-nine weeks ended November 2, 2024:

Thirteen Weeks Ended November 2, 2024

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

Beginning balance at May 4, 2024 $ ( 138,369 ) $ 1,087 $ ( 137,282 )

Other comprehensive income (loss) before reclassifications 3,441 ( 587 ) 2,854

Reclassified gain from AOCL (1)

— ( 527 ) ( 527 )

Beginning balance at August 3, 2024 $ ( 134,928 ) $ ( 63 ) $ ( 134,991 )

Other comprehensive income before reclassifications 84 1,162 1,246

Reclassified loss from AOCL (1)

Tax effect — ( 52 ) ( 52 )

Other comprehensive income (loss) after reclassifications 3,441 ( 1,150 ) 2,291

Ending balance at August 3, 2024 $ ( 134,928 ) $ ( 63 ) $ ( 134,991 )

Twenty-Six Weeks Ended August 3, 2024

Other comprehensive income after reclassifications 84 1,461 1,545

Ending balance at November 2, 2024 $ ( 134,844 ) $ 1,398 $ ( 133,446 )

Thirty-Nine Weeks Ended November 2, 2024

(in thousands) Foreign Currency Translation Adjustment Unrealized Gain (Loss) on Derivative Financial Instruments Total

4 unchanged sentences

Tax effect — ( 111 ) ( 111 )

Other comprehensive income (loss) after reclassifications 1,604 ( 627 ) 977

Ending balance at August 3, 2024 $ ( 134,928 ) $ ( 63 ) $ ( 134,991 )

Other comprehensive income after reclassifications 1,688 834 2,522

Ending balance at November 2, 2024 $ ( 134,844 ) $ 1,398 $ ( 133,446 )

(1) Amount represents loss reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Condensed Consolidated Statements of Operations and Comprehensive Income.

18 unchanged sentences

The Company does not report its other assets by segment as that information is not used by the CODM in assessing segment performance or allocating resources.

The following tables provide the Company’s segment information as of August 2, 2025, February 1, 2025 and August 3, 2024, and for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended August 2, 2025

The following tables provide the Company’s segment information as of November 1, 2025, February 1, 2025 and November 2, 2024, and for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended November 1, 2025

(in thousands)

22 unchanged sentences

2025 3Q Form 10-Q

Thirteen Weeks Ended August 3, 2024

Thirteen Weeks Ended November 2, 2024

(in thousands) Americas (1)

22 unchanged sentences

Net sales in the U.S.

were $ 0.9 billion and $ 0.9 billion for the thirteen weeks ended August 2, 2025 and August 3, 2024, respectively.

were $ 1.0 billion and $ 0.9 billion for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively.

(2) Included in selling expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.

1 unchanged sentence

(4) Corporate and other unallocated expenses represent corporate overhead expenses that have not been allocated to any segment.

Twenty-Six Weeks Ended August 2, 2025

Thirty-Nine Weeks Ended November 1, 2025

(in thousands)

22 unchanged sentences

2025 3Q Form 10-Q

Twenty-Six Weeks Ended August 3, 2024

Thirty-Nine Weeks Ended November 2, 2024

(in thousands) Americas (1)

22 unchanged sentences

Net sales in the U.S.

were $1.8 billion and $1.6 billion for the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively.

were $2.8 billion and $2.6 billion for the thirty-nine weeks ended November 1, 2025 and November 2, 2024, respectively.

(2) Included in selling expense on the Condensed Consolidated Statements of Operations and Comprehensive Income.

1 unchanged sentence

(4) Corporate and other unallocated expenses represent corporate overhead expenses that have not been allocated to any segment.

(in thousands) August 2, 2025 February 1, 2025 August 3, 2024

(in thousands) November 1, 2025 February 1, 2025 November 2, 2024

Americas $ 596,180 $ 463,148 $ 569,713

5 unchanged sentences

Total assets $ 3,479,918 $ 3,299,887 $ 3,269,872

The Company’s long-lived assets and intellectual property, which primarily relates to trademark assets associated with the Company’s global operations, by geographic area as of August 2, 2025, February 1, 2025 and August 3, 2024 were as follows:

(in thousands) August 2, 2025 February 1, 2025 August 3, 2024

The Company’s long-lived assets and intellectual property, which primarily relates to trademark assets associated with the Company’s global operations, by geographic area as of November 1, 2025, February 1, 2025 and November 2, 2024 were as follows:

(in thousands) November 1, 2025 February 1, 2025 November 2, 2024

Americas (1) (2)

5 unchanged sentences

Long-lived assets and intellectual property located in the U.S.

were $ 1.1 billion, $ 965 million, and $ 971 million as of August 2, 2025, February 1, 2025 and August 3, 2024, respectively.

(2) Includes intellectual property of $ 2.9 million, $ 2.9 million, and $ 2.9 million as of August 2, 2025, February 1, 2025, and August 3, 2024, respectively.

(3) Includes intellectual property of $ 15.2 million, $ 16.6 million, and $ 17.0 million as of August 2, 2025, February 1, 2025, and August 3, 2024, respectively.

were $ 1.1 billion, $ 965 million, and $ 982 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.

(2) Includes intellectual property of $ 2.9 million, $ 2.9 million, and $ 2.9 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.

(3) Includes intellectual property of $ 15.0 million, $ 16.6 million, and $ 16.8 million as of November 1, 2025, February 1, 2025, and November 2, 2024, respectively.

Brand Information

The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:

Thirteen Weeks Ended Twenty-Six Weeks Ended

(in thousands) August 2, 2025 August 3, 2024 August 2, 2025 August 3, 2024

The following table provides additional disaggregated revenue information, which is categorized by brand, for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:

Thirteen Weeks Ended Thirty-Nine Weeks Ended

(in thousands) November 1, 2025 November 2, 2024 November 1, 2025 November 2, 2024

$ 617,345 $ 629,835 $ 1,717,160 $ 1,783,764

4 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements